GV Developments announced on Thursday that it has appointed the joint venture of SolarizEgypt | Amarenco & Co. to implement clean energy and green hydrogen systems within its Tarboul Industrial City project in Giza governorate.
SolarizEgypt | Amarenco & Co is a joint venture between Cairo-based solar company SolarizEgypt and European independent solar power producer Amarenco & Co.
Sherif Hammouda, Founder & Chairman of the board of directors, GV Developments said the agreement will ensure the incorporation of environmentally friendly specifications in the infrastructure of Phase 1 of Tarboul City.
Spread over an area of 109 million square meters, Tarboul City’s industrial master plan includes zones for food technology, building materials, chemicals and plastics, automobiles, engineering, medical and textile and clothing. The project also includes worker accommodation and offices, and would be established in 13 phases over a period of 15 years.
In February 2022, Amarenco had announced that it would acquire 74 percent of SolarizEgypt’s portfolio of solar projects and co-develop 300 megawatts of assets at an estimated budget of $255 million in the next four years.
(Writing by Eman Hamed; Editing by Anoop Menon)